Report Update: May 1, 2024

Russian Federation - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights

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Price for Processed Petroleum Oils and Distillates in Russia - 2022

Price for Processed Petroleum Oils and Distillates in Russia (FOB) - 2022

The average export price for processed petroleum oils and distillates stood at $584 per ton in January 2022, growing by 2.2% against the previous month. Over the period from January 2021 to January 2022, it increased at an average monthly rate of +4.1%. The growth pace was the most rapid in March 2021 when the average export price increased by 14% month-to-month. The export price peaked in January 2022.

There were significant differences in the average prices for the major export markets. In January 2022, the country with the highest price was Latvia ($709 per ton), while the average price for exports to Barbados ($364 per ton) was amongst the lowest.

From January 2021 to January 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Processed Petroleum Oils and Distillates in Russia (CIF) - 2022

In January 2022, the average import price for processed petroleum oils and distillates amounted to $1,784 per ton, increasing by 31% against the previous month. In general, import price indicated a prominent expansion from January 2021 to January 2022: its price increased at an average monthly rate of +5.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2022 figures, processed petroleum oils and distillates import price increased by +80.0% against November 2021 indices. The growth pace was the most rapid in February 2021 an increase of 51% against the previous month. The import price peaked in January 2022.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($8,001 per ton), while the price for Kazakhstan ($595 per ton) was amongst the lowest.

From January 2021 to January 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Processed Petroleum Oils and Distillates in Russia

In 2022, approx. 129M tons of processed petroleum oils and distillates were exported from Russia; which is down by -10.6% on 2021. The total export volume increased at an average annual rate of +3.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 27%. As a result, the exports reached the peak of 144M tons, and then shrank in the following year.

In value terms, processed petroleum oils and distillates exports reduced rapidly to $55.3B in 2022. Overall, exports continue to indicate a noticeable setback. The growth pace was the most rapid in 2021 when exports increased by 70%. As a result, the exports reached the peak of $69.6B, and then fell dramatically in the following year.

Export of Processed Petroleum Oils and Distillates in Russia (Billion USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	11.8	6.4	14.7	10.7	-3.2%
China	3.1	2.0	3.9	5.0	17.3%
South Korea	2.1	1.4	3.1	4.4	28.0%
Turkey	3.6	2.3	3.8	3.4	-1.9%
France	1.2	1.2	2.2	3.0	35.7%
United States	4.1	3.9	5.0	2.8	-11.9%
United Kingdom	2.0	0.8	1.2	1.9	-1.7%
Latvia	2.5	1.3	1.1	1.4	-17.6%
Italy	1.8	1.4	2.0	1.2	-12.6%
Estonia	0.6	0.6	1.5	1.1	22.4%
Barbados	N/A	N/A	N/A	0.7	0%
Spain	0.8	0.4	1.0	0.7	-4.4%
Denmark	1.7	0.4	0.7	0.6	-29.3%
Others	26.2	18.9	29.2	18.3	-11.3%
Total	61.6	41.0	69.6	55.3	-3.5%

Top Export Markets for Processed Petroleum Oils and Distillates from Russia in 2022:

Netherlands (25.5M tons)
China (10.1M tons)
South Korea (9.1M tons)
Turkey (7.9M tons)
United States (7.5M tons)
France (6.4M tons)
United Kingdom (4.3M tons)
Italy (3.1M tons)
Estonia (3.0M tons)
Latvia (2.7M tons)
Barbados (2.7M tons)
Spain (2.4M tons)
Denmark (2.3M tons)

Imports of Processed Petroleum Oils and Distillates in Russia

In 2022, after three years of growth, there was significant decline in purchases abroad of processed petroleum oils and distillates, when their volume decreased by -91.2% to 183K tons. In general, imports recorded a dramatic contraction. The growth pace was the most rapid in 2021 when imports increased by 30%. As a result, imports attained the peak of 2.1M tons, and then reduced remarkably in the following year.

In value terms, processed petroleum oils and distillates imports dropped significantly to $140M in 2022. Over the period under review, imports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of 30%. As a result, imports reached the peak of $1.6B, and then contracted markedly in the following year.

Import of Processed Petroleum Oils and Distillates in Russia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Turkey	72.7	75.0	86.8	21.8	-33.1%
South Korea	65.5	66.5	101	17.5	-35.6%
Germany	95.7	84.8	117	9.4	-53.9%
Finland	137	145	242	8.3	-60.7%
China	140	60.8	69.9	7.3	-62.6%
Kazakhstan	38.5	18.5	27.8	5.9	-46.5%
Japan	27.1	22.5	37.1	5.1	-42.7%
Belgium	51.2	55.9	86.5	2.8	-62.0%
Netherlands	40.5	38.3	55.5	2.7	-59.5%
Thailand	7.1	8.3	14.1	2.2	-32.3%
Azerbaijan	N/A	3.0	3.1	1.5	-29.3%
Malaysia	5.8	4.8	4.4	0.8	-48.3%
Belarus	31.2	101	N/A	N/A	223.7%
Others	624	539	741	54.8	-55.6%
Total	1,336	1,223	1,585	140	-52.9%

Top Suppliers of Processed Petroleum Oils and Distillates to Russia in 2022:

Turkey (39.8K tons)
Kazakhstan (33.5K tons)
China (14.3K tons)
South Korea (12.7K tons)
Finland (7.6K tons)
Germany (6.2K tons)
Japan (3.2K tons)
Malaysia (2.9K tons)
Azerbaijan (2.7K tons)
Belgium (2.5K tons)
Netherlands (2.4K tons)
Thailand (2.3K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in the Russian Federation. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Russia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Russian Federation
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023